Missouri
Stop Missouri Payday Loans!
The following is an editorial from The News-Leader…
Section
Payday Loans in Missouri
Payday Loan Laws in Missouri (2026)
Yes — payday loans are legal in Missouri, and the state is among the most permissive. There is no cap on the interest rate, and APRs average around 440%. Loans run $500 or less for 14–31 days and can be renewed up to six times — but each renewal requires paying down at least 5% of the principal, and total interest and fees can't exceed 75% of the original loan.
| Status | Legal — permissive, no rate cap |
|---|---|
| Interest / APR cap | None — average ~440% APR (state survey) |
| Maximum loan | $500 |
| Loan term | 14 to 31 days |
| Renewals | Up to 6 — each requires reducing principal by at least 5% |
| Lifetime cost cap | Total interest and fees ≤ 75% of the original loan |
| Regulator | Missouri Division of Finance |
| Law | Mo. Rev. Stat. § 408.500 & § 408.505 |
What Missouri borrowers should know
- Missouri sets no cap on payday-loan rates — the average APR is around 440%, so compare the total dollar cost before borrowing.
- A loan can be renewed up to six times, but each renewal requires paying down at least 5% of the principal, so the balance must shrink.
- Total interest and fees over the life of a loan can't exceed 75% of the amount you originally borrowed.
- Loans are capped at $500 for 14–31 days — read the fee schedule, since there's no rate ceiling.
Problem with a lender? File a complaint
Payday lenders in Missouri are licensed by the Division of Finance. To report a violation or an illegal lender, use the online complaint form.
Alternatives to a payday loan
Because Missouri sets no rate cap, the cost can be steep — weigh a credit-union payday-alternative loan, an employer paycheck advance, or nonprofit credit counseling first. See our guide to payday loans and alternatives.
Your debt rights in Missouri
A lender can garnish wages in Missouri only after it sues and wins a court judgment, and federal law then caps how much can be taken. Missouri does not run a statewide payday-loan database, so limits on how many loans you can hold are harder to track from lender to lender. Your rights when you cannot repay are set by a mix of federal and state law — these guides explain how they work:
- Can a payday lender sue you?
- Can payday loans garnish your wages?
- Do payday loans affect your credit?
- Payday loan statute of limitations
- How many payday loans can you have?
- How to get out of payday loan debt
Disclaimer: general information, not legal or financial advice. Laws change — verify the current rules with the Missouri Division of Finance before borrowing. Last reviewed 2026.
Sources
Frequently asked
Are payday loans legal in Missouri?
Yes. They are legal and regulated by the Missouri Division of Finance under Mo. Rev. Stat. 408.500–408.505. Missouri sets no cap on the interest rate.
How high are payday loan APRs in Missouri?
There is no rate cap; the state's own survey puts the average APR around 440%.
How many times can a Missouri payday loan be renewed?
Up to six times, but each renewal requires paying down at least 5% of the original principal.
Is there any limit on payday loan costs in Missouri?
Yes — total interest and fees over the life of the loan cannot exceed 75% of the amount you originally borrowed.
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